23rd Jul 2015 07:58
LONDON (Alliance News) - Bloomsbury Publishing PLC said Thursday it has traded in line with its expectations in its first quarter, with revenue in the quarter boosted by its acquisition of Osprey Publishing at the end of 2014.
In the three months to end-May, revenue rose 13%, Bloomsbury said, and excluding Osprey its was up 5%. Bloomsbury said its first quarter is traditionally the smallest in terms of profit.
The company is on schedule to publish the illustrated edition of 'Harry Potter and the Philosopher's Stone' on October 6. Also in October, the company's academic and professional division will exclusively stream a new collection of twenty filmed stage productions on its study platform Drama Online.
Under new content partnerships, it will also release 350 audio plays this month and 350 play texts in September.
Bloomsbury expects to publish its interim results for the half year to end-August on October 27.
Shares in Bloomsbury are trading up 1.7% at 165.78 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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